Telcoe Federal Credit Union Offers 5-Year CD (3.04% APY) In Arkansas

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Deal Summary: 5-year CD, 3.04% APY, $1k minimum deposit.

Availability: All Arkansas residents.

Telcoe Federal Credit Union’s (Telcoe FCU) 5-year CD is currently earning 3.04% APY. The minimum opening deposit is $1k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.65%$1k-Telcoe Federal Credit Union5 Year CD
0.65%$1k-Telcoe Federal Credit Union5 Year IRA (Traditional, Roth)
0.65%$1k-Telcoe Federal Credit Union5 Year Educ. IRA
Rates as of November 24, 2020.

The 5-year CD is also available as an IRA (Traditional, Roth, Educational), earning the same APY with the same funding requirements.

The 3.04% APY has been in effect for more than a year, which prompted me to ask CSR if there was any indication that the rate might be lowered any time soon. CSR stated she hadn’t been informed of any upcoming rate changes.

As stated in the Account Disclosures document, the Early Withdrawal Penalty reads as follows:

For Accounts having a term greater than one year,
the penalty imposed will equal 180 days of dividends.

Maturing funds can be distributed through a cashier’s check or deposited into an existing Telcoe FCU checking or savings accounts. There is a 10-day grace period before the 5-year CD automatically renews.

Availability

Headquartered in Little Rock, Arkansas, Telcoe Federal Credit Union’s field of membership (FOM) includes individuals who live or work anywhere in Arkansas. An Arkansas driver's license or Arkansas state-issued ID is required to prove eligibility.

There are also hundreds of Select Employer Groups in more than 120 Arkansas communities, which offer Telcoe FCU membership as a benefit to its employees/members.

Joining Telcoe FCU can be done online or at any of four full-service Arkansas branches, which are located in Little Rock (2), Russellville, and Sherwood.

Opening a CD can done over the phone or at any of the above mentioned branch locations. There’s also a “Request Info” form on the Share Certificates (CD)s page to ask questions about opening a CD.

To establish membership with Telcoe FCU, you must open and maintain a Prime Savings Account with a minimum balance of $5.00 with a one-time activation fee of $5.00.

In addition to the CO-OP Shared Branching network, Telcoe participates in the CULIANCE ATM network, the largest surcharge-free ATM in the nation.

We’re proud to offer two ATM network partners — CO-OP and CULIANCE — to bring you nationwide access to surcharge-free ATMs.

Credit Union Overview

Telcoe Federal Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 0.21% (excellent) based on June 30, 2019 data. In the past year, Telcoe FCU has increased its total non-brokered deposits by $11.6 million, an excellent annual growth rate of 4.22%. Please refer to our financial overview of Telcoe Federal Credit Union (NCUA Charter # 24202) for more details.

Telcoe Federal Credit Union is currently the second largest credit union in Arkansas, with more than 24,600 members and assets in excess of $375 million. Founded in 1950, the original FOM included the employees of Southwestern Bell Telephone in Little Rock. Committed to its members, Telcoe FCU annually awards college scholarships. In July, Telco FCU

awarded scholarships to graduating high school seniors in Arkansas. Individual awards will be $500 each and this year seven deserving scholars are being recognized, totaling $3500 in scholarships. Applicants are all graduating high school seniors; enrolled to be a full-time student at the college/trade school of his/her choice, and are all members of Telcoe.

How the CD Compares

When compared to 210 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to Arkansas residents, Telcoe Federal Credit Union's 5-year CD APY currently shares the top spot with Bank of Little Rock’s 5-year CD APY.

The above rates are accurate as of 9/24/2019.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table.

Related Pages: Little Rock CD rates, 5-year CD rates

Comments

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